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Bitcoin [BTC] proponent Mike Novogratz donates cryptocurrency winnings to Princeton University




Bitcoin [BTC] proponent Mike Novogratz donates cryptocurrency winnings to Princeton University
Source: Unsplash

Michael Novogratz, more commonly known as Mike Novogratz, a well-known person in the crypto-community has donated his cryptocurrency profits to Princeton University.

Novogratz and his wife Sukey Cáceres’ donations will be proceeded towards “Bridge Year Program” which is a tuition fee program that allows students to engage in nine months of University-sponsored service at one of five international locations — Bolivia, China, India, Indonesia, and Senegal.

Princeton President Christopher L Eisgruber said:

“I am deeply grateful to Mike and Sukey Novogratz for their generous support of the program… Their extraordinary gift will enable generations of Princetonians to embark on a path of global citizenship as Bridge Year scholars.”

Michael Novogratz said:

“I believe that Bridge Year gives students an incredible opportunity to prepare for their role as leaders of an increasingly interconnected world. At the same time, it offers abundant opportunities for introspection and personal growth. Students return from it with a real sense of purpose, and an interest in being of service to their communities, and to the world.”

Michael Novogratz and his wife, Sukey Cáceres are both alumni of Princeton Univesity. Mike Novogratz was in the class of 1987 while his wife was in the class of 1989.

Novogratz is well-known in the cryptocurrency community for his predictions on the price of Bitcoin. He is also the CEO of Galaxy Digital Holdings Ltd., an investment firm that is focussed on digital assets.

Furthermore, he tweeted:

“Proud to put some of our crypto winnings (2017😉) to a good cause. A year living in a different culture can change your life for the better. Build bridges, not walls.”

@janiceTexas commented:

“He should donate the money to some community colleges where need based students could really use it. Princeton endowment is bloated @neal_katyal @novogratz”

@tobywalker83 commented:

“This is a wonderful gift, Mike! Moving overseas has changed my life for the better. It’s the greatest education a person can receive.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Bitcoin’s [BTC] current performance shows that it is a great diversifying asset, says Morgan Creek’s CIO

Akash Anand



Bitcoin's [BTC] current performance shows that it is a great diversifying asset, says Morgan Creek's CIO
Source: Pixabay

The phenomenal rise in Bitcoin’s [BTC] price has excited the cryptocurrency market, with many speculating that the end of the prolonged bear market is near. Many proponents in the cryptocurrency space have also voiced their opinion about how positive fluctuations in the world of digital assets have actually enabled them to outperform the best of the S&P market.

In a recent interview on CNBC’s Fast Money, Mark Yusko, Chief Investment Officer at Morgan Creek Digital Capital, spoke about the rippling effects of the cryptocurrency market and the implications of Bitcoin’s current run. Brian Kelly, CNBC’s famous Bitcoin bull, further added that he hoped people would put their money on Bitcoin. To this, Yusko replied,

“Morgan Creek had launched the cryptocurrency challenge back in December and there were not many takers. In a way that was good because BTC is up by more than a 100 percent right now, which is a much better hit rate than that of the S&P market. We will see that in the next 10 years, Bitcoin will outstrip even its current performance and maybe even more.”

Morgan Creek’s CIO further opined that BTC is a great diversifying asset and that it should be in everybody’s cryptocurrency portfolio. He added that at the end of 2018, many analysts thought that 2019 would be the year when BTC would see a lot of bear bounces. However, the world’s largest cryptocurrency managed to beat expectations. Another argument that he laid out for BTC’s longevity was the predicted credit crisis in 2020, a market shift that is expected to cripple mainstream banking systems.

Despite the coin’s present performance, the ‘king coin’ was hit with some negative news recently after the latest Binance research report hinted at ‘disruption with trading pairs,’ as BTC pairs lost 38.9 percent of its market share. The research stated that out of all the trading pairs, USDT saw the largest net inflow, with a total increase slightly below $1 billion.

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